Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,942,592 shares of the network equipment provider's stock after purchasing an additional 211,952 shares during the period. Victory Capital Management Inc. owned about 0.17% of Cisco Systems worth $411,001,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Swedbank AB raised its stake in shares of Cisco Systems by 0.6% during the 3rd quarter. Swedbank AB now owns 9,029,594 shares of the network equipment provider's stock worth $480,555,000 after acquiring an additional 52,711 shares in the last quarter. Clear Creek Financial Management LLC raised its stake in shares of Cisco Systems by 9.8% during the 3rd quarter. Clear Creek Financial Management LLC now owns 7,772 shares of the network equipment provider's stock worth $414,000 after acquiring an additional 695 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Cisco Systems by 0.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 46,809 shares of the network equipment provider's stock worth $2,491,000 after acquiring an additional 226 shares in the last quarter. Catalyst Capital Advisors LLC raised its stake in shares of Cisco Systems by 23.7% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 68,642 shares of the network equipment provider's stock worth $3,653,000 after acquiring an additional 13,130 shares in the last quarter. Finally, Moloney Securities Asset Management LLC increased its stake in Cisco Systems by 1.0% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 66,055 shares of the network equipment provider's stock valued at $3,515,000 after purchasing an additional 642 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CSCO shares. Morgan Stanley upped their price target on shares of Cisco Systems from $62.00 to $68.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. JPMorgan Chase & Co. upped their price target on shares of Cisco Systems from $69.00 to $73.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Bank of America upped their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Piper Sandler upped their price target on shares of Cisco Systems from $57.00 to $72.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Finally, Melius raised shares of Cisco Systems from a "hold" rating to a "buy" rating and upped their price objective for the company from $66.00 to $73.00 in a report on Monday, January 6th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $66.63.

Insider Activity

In related news, Director Kristina M. Johnson sold 7,500 shares of Cisco Systems stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $59.87, for a total value of $449,025.00. Following the completion of the transaction, the director now owns 65,915 shares in the company, valued at $3,946,331.05. The trade was a 10.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 11,808 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $64.37, for a total transaction of $760,080.96. Following the sale, the executive vice president now directly owns 200,191 shares in the company, valued at approximately $12,886,294.67. The trade was a 5.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 74,848 shares of company stock worth $4,767,206 over the last three months. Insiders own 0.01% of the company's stock.

Cisco Systems Price Performance

CSCO traded up $0.70 during midday trading on Wednesday, hitting $63.96. 14,930,577 shares of the company traded hands, compared to its average volume of 19,941,484. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $254.45 billion, a price-to-earnings ratio of 27.93, a PEG ratio of 4.16 and a beta of 0.84. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The business has a 50 day simple moving average of $61.47 and a two-hundred day simple moving average of $57.20.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing analysts' consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. On average, equities analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.56%. This is a boost from Cisco Systems's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 3rd. Cisco Systems's dividend payout ratio is 71.62%.

Cisco Systems declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Cisco Systems Company Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.